(NLDO) – Gold prices today plunged when the US announced that the economy was growing stronger than expected, and the country's bond interest rates increased.
World gold price today goes down
At 6:00 a.m. on December 6, the world spot gold price was at 2,630 USD/ounce, down 26 USD compared to the highest price in last night's trading session of 2,656 USD/ounce.
World gold prices weakened today when Chairman of the US Federal Reserve Board of Governors - Mr. Jerome Powell - said that the economy is growing stronger than expected, the FED will be more cautious about reducing interest rates.
In response to this news, US bond yields rose again. This means that bond values have fallen, encouraging investors to buy bonds to make a profit. As a result, money flowing into the gold market has been limited. Gold prices have naturally fallen today.
Meanwhile, the number of Americans filing new claims for unemployment benefits rose only slightly, reflecting continued cooling in the labor market.
Investors are awaiting the monthly jobs report from the US Department of Labor, which will have a certain impact on the gold market. According to a survey by Bloomberg news agency, non-farm payrolls are likely to increase by about 200,000 people in November.
A Fed official announced that the US economy is in a remarkably good condition, the risks from the labor market have decreased, making gold speculators somewhat uneasy. Accordingly, many people have sold to recover their capital. The world gold price today is forced to decrease.
In Vietnam, the price of SJC gold at the end of December 5 was 85.5 million VND/tael. The price of gold rings was 84.3 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-6-12-sut-giam-manh-19624120606200423.htm
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